IDeA CCR (Corporate Credit Recovery) I Fund, (the “Fund”), an investment
platform managed by IDeA Capital Funds SGR (“IDeA”) and developed with
support and funding from the anchor investor Bayside Capital (“H.I.G.
Bayside”), a credit affiliate of global investment firm H.I.G. Capital,
will invest in Italian mid-sized enterprises in distressed situations,
aiming to help them restructure and turnaround, and consequently help
banks maximize the recovery of their original loans.

The Fund launches today with a first close at €260 million comprising
two-sub funds: a Credit Fund and a New Money Fund. The Credit Fund
consists of the loans in eight companies contributed by seven leading
banks in Italy: UniCredit, BNL/BNP Paribas, Banca Popolare di Vicenza,
MPS, BPM and Biverbanca (the “Participant Banks”). The loans have been
contributed in exchange for units of the Fund. The New Money Fund
provides new capital to support the turnaround and growth of the
companies in the Credit Fund. H.I.G. Bayside has underwritten 50% of the
New Money Fund, IDeA Capital and third party investors contributed the
balance.

The Fund will be managed by an experienced team led by Francesco Gori,
former CEO of Pirelli Tyre and Managing Director of Pirelli & C., and
Vincenzo Manganelli, responsible for the financial restructuring
process. Raffaele Legnani, Managing Director and Head of H.I.G. Capital
in Italy, and Giuseppe Mirante, Managing Director of H.I.G. Bayside,
will join the investment committee of the Fund.

Over time, additional portfolio companies will be contributed to the
Fund by the Participant Banks.

Roberto Saviane, Chairman of IDeA Capital Funds, noted: “IDeA Capital
Funds will contribute to the new venture with the knowledge and contacts
in the financial and industrial Italian sector and will support the
relaunch of the portfolio companies with its management and financial
skills.”

Duncan Priston, Managing Director at H.I.G. Bayside, commented: “We are
extremely pleased to announce this important collaboration with IDeA. We
look forward to working together and leveraging our collective skills to
identify and invest in attractive mid-market Italian companies.”

Raffaele Legnani added: “The interest of H.I.G. Bayside is to further
invest in Italy and to bring to the IDeA CCR Fund not only capital, but
also know-how, leveraging on its expertise in debt and turnaround
investments and on H.I.G. Bayside’s international presence and network.”

About IDeA Capital Funds

IDeA Capital Funds SGR S.p.A. was established in December, 2006, and is
100% owned by DeA Capital S.p.A., a De Agostini Group company active in
Alternative Asset Management. IDeA is one of the leading independent
Italian asset managers active in private equity, with €2.2 billion of
assets under management. It invests both in global funds of funds and in
direct funds which are primarily focused on Italian companies. These two
business areas are part of the same value-creating strategy implemented
for the benefit of IDeA’s investor base, which includes sophisticated
institutional investors as well as successful entrepreneurs. IDeA
manages four funds of funds (IDeA I Fund Of Funds, Icf II, IDeA Crescita
Globale, Icf III), a direct co-investment fund which invests in minority
positions of mainly Italian mid-market companies (IDeA Opportunity Fund
I), two sector-focused funds (IDeA Efficienza Energetica e Sviluppo
Sostenibile, and IDeA Taste of Italy). In addition, IDeA started
managing the fund Investitori Associati IV in April, 2015.

About H.I.G. Capital

H.I.G. Capital is a leading global private equity and alternative assets
investment firm with over $20 billion of capital under management.*
Based in Miami, and with offices in New York, Boston, Chicago, Dallas,
Los Angeles, San Francisco and Atlanta in the U.S., as well as
international affiliate offices in London, Hamburg, Madrid, Milan, Paris
and Rio de Janeiro, H.I.G. specializes in providing both debt and equity
capital to small and mid-sized companies, utilizing a flexible and
operationally focused/value-added approach. For more information, please
refer to the H.I.G. website at www.higcapital.com.

About Bayside Capital

Bayside Capital (“Bayside”) is a credit affiliate of H.I.G. Capital,
with over $4.5 billion under management. Bayside is focused on providing
capital solutions to address complex situations within short
timeframes. Through improved access to capital or facilitating balance
sheet realignments, Bayside can help support future strategies and
expansion plans. Bayside has the ability to provide capital through a
broad range of securities including asset-based and cash flow senior and
subordinated debt, equity, debtor-in-possession facilities, and special
situation loans. Bayside has the experience and resources to help
companies quickly resume growth initiatives and improve their strategic
position. For more information, please refer to the Bayside website at www.bayside.com.